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|Reference|and Administrative
Details||
|---|---|---|
|Trustees'|Report|2to4|
|Statement|ofTrustees'
Responsibilities||
|Independent's
Examiner's
Report|||
|Statement|of Comprehensive
Income||
|Statement|ofChanges
in Reserves||
|Statement|of Financial
Position||
|Statement|of Cash Flows|10|
|Notes to the Financial Statements||11to 26|
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|Charity registration|Charity registration|number|number|1125402|||
|---|---|---|---|---|---|---|
|Company|registration||number|6595498|||
|Principal office||||5The Coneries|||
|||||Loughborough|||
|||||Leicestershire|||
|||||LE11 1DZ|||
|Registered|office|||Northgate
House|||
|||||North Gate|||
|||||New Basford|||
|||||Nottingham|||
|||||NG7 7BQ|||
|Trustees||||Mr M Millman - Chairman|||
|||||Mr G Bradshaw-Mays|||
|||||Mrs BWallington|||
|||||Mr T Farrar —resigned|14 May 2021||
|||||Mr J Harper|||
|||||Mrs C Brady —appointed||08 March 2021|
|Secretary||||Mr C York|||
|Bankers||||CAF Bank Ltd|||
|||||25 Kings Hill Avenue|||
|||||Kings
Hill|||
|||||West Mailing|||
|||||Kent|||
|||||ME194JQ|||
|Accountants||||RWB CA Ltd|||
|||||Northgate
House|||
|||||North Gate|||
|||||New Basford|||
|||||Nottingham|||
|||||NG7 7BQ|||
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||||2021|2020|
|---|---|---|---|---|
|||Note|||
|Turnover||3|748,474|689,712|
|Operating
Expenditure
Other Income||3
3|(774,896)
164,966|(745,829)
131,732|
|Operating
Surplus|||138,544|75,615|
|Profit on disposal offixed assets||||4,175|
|Interest receivable
Interest and financing|costs|3|~9,745|~10,902|
|Surplus/(Deficit)
before tax|||128,799|68,888|
|Taxation|||||
|Total comprehensive|income for the year||128,799|68,888|
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|||Unrestricted|||
|---|---|---|---|---|
|||Income &|||
|||Expenditure|Restricted||
|||Reserve|Reserve|Total|
|Balance as at 1 April|2019|128,058|4,354|132,412|
|Total comprehensive|income for the year|72,933|4,045|68,888|
|Balance as at 31 March 2020||200,991|309|201,300|
|Total comprehensive|income for the year|128,799||128,799|
|Balance as at 31 March 2021|||||
|||329,790|309|330,099|
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|||||2021|2020|
|---|---|---|---|---|---|
||||Note||E|
|Fixed Assets||||||
|Tangible fixed assets|||7|265930|274 320|
|Current Assets||||||
|Trade 8 other debtors||||84,104|72,581|
|Cash &cash equivalents||||157,107|96,663|
|||||241,211|169,244|
|Creditors: amounts|falling due within one year||9|~24,392|82,857|
|Net current assets||||216,819|86,387|
|Total assets less current||liabilities||482,749|360,707|
|Creditors: amounts
more than one year|falling due after||9|~152,650|159,407|
|Total net assets||||330,099|201,300|
|Reserves||||||
|Income 8 expenditure
Restricted reserve|reserve|||329,790
309|200,991
309|
|Total reserves||||330,099|201,300|
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|||||2021|2020|
|---|---|---|---|---|---|
|Net cash generated
from operating||activities||130,057|70,296|
|Cash flow from investing|activities|||||
|Purchase oftangible fixed assets||||(3,511)|(22,770)|
|Sale oftangible
fixed assets|||||10,287|
|||||(3,511)|(12,483)|
|Cash flow from financing|activities|||||
|Interest paid||||(9,745)|(10,902)|
|New loans
Repayments
of borrowings||||~56,357|~9,021|
|||||(66,102)|(19,923)|
|Net change
in cash and cash equivalents||||60,444|37,890|
|Cash and cash equivalents|at beginning||ofthe year|96,663|58,773|
|Cash and cash equivalents|at end|ofthe|year|157,107|96,663|
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|||||2021||
|---|---|---|---|---|---|
||||Cost of|Operating|Operating|
|||Turnoverf|Sales
F|expenditure|(deficit)|
|Social housing|lettings|748,474|(227,064)|(417,592)|103,818|
|Other social housing||||||
|activities||||||
|Charges for support services||||||
|Other||||||
|Activities other|than social|164,966|(216)|(139,769)|24,981|
|housing||||||
|||913,440|(227,280)|(557,361)|128,799|
|||||2020||
||||Cost of|Operating|Operating|
|||Turnover
F|Sales|Expenditure|surplusf|
|Social housing|lettings|689,712|(201,034)|(440,052)|48,626|
|Other social housing||||||
|activities||||||
|Charges for support services||||||
|Other||||||
|Activities other|than social|||||
|housing||131,732|216|111,254|20,262|
|||821,444|(201,250)|(551,306)|68,888|
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|3.|Particulars
ofturnover,|Particulars
ofturnover,|Particulars
ofturnover,|cost|ofsales, operating costs and operating|ofsales, operating costs and operating|surplus
(continued)||
|---|---|---|---|---|---|---|---|---|
||Homeless needs supported||||housing||2021|2020|
|||||||||f.|
||Rent receivable|net|of identifiable|||service charges|748,474|689,712|
||Donations||||||||
||Grant||||||||
||Turnover
from|social housing||||lettings|748,474|689,712|
||Direct costs||||||||
||Rent||||||149,021|136,002|
||Rates and water||||||16,158|12,279|
||Light, heat and power||||||37,540|29,884|
||Repairs and maintenance||||||13,459|18,562|
||Other direct costs||||||10,886|4,307|
||||||||227,064|201,034|
||Other operating|expenditure|||||||
||Wages and salaries||||||256,884|253,612|
||Staff.NIC||||||12,454|10,082|
||Staff pensions||||||4,917|3,930|
||Trustee remuneration||||||36,369|38,308|
||Trustee
NIC||||||3,543|3,532|
||Trustee pension||||||847|842|
||Travelling||||||3,812|11,170|
||Advertising||||||50|1,694|
||Rent||||||15,100|16,200|
||Rates and water||||||1,006|(1,587)|
||Light, heat &power||||||1,230|117|
||Insurance||||||9,900|9,539|
||Other expenses||||||9,209|8,963|
||Repairs &maintenance||||||12,481|14,261|
||Telephone||||||10,006|13,132|
||Office expenses
Motor expenses||||||13,920
3,229|28,864
5,518|
||Training||||||457|1,256|
||Accountancy
costs||||||3,082|2,568|
||Independent
examiners|||fees|||2,880|3,120|
||Legal and professional
fees||||||2,425||
||Depreciation
of|housing||properties|||3,627|3,627|
||Loan and mortgage||interest paid||||9,745|10,902|
||Bank fees||||||419|402|
||||||||417,592|440,052|
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|Activities other than social housing|2021|2020|
|---|---|---|
|||E|
|Donated goods and services|20,275|32,827|
|Donation
income|61,645|52,527|
|Grants|66,171|30,892|
|Other revenue|16,875|15,486|
|Turnover from other activities|164,966|131,732|
|Fundraising
costs|216|216|
|Wages and salaries|71,921|40,708|
|Staff NIC|2,738|2,646|
|Staff pensions|1,013|907|
|Depreciation
ofother fixed assets|8,274|6,118|
|Profit on disposal offixed asset||(4,175)|
|Rent, rates and water|42,718|41,418|
|Light, heat and power|2,716|713|
|Personal
support costs|10,389|22,919|
||139,769|111,254|
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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||||F|F|
|Depreciation
of|housing|properties||||3,627|3,627|
|Depreciation
of|tangible|fixed assets||||8,274|6,118|
|Surplus on disposal
tangible fixed assets|||||||(4,175)|
|Operating
lease|rentals|||||||
|Land and buildings||||||203,429|184,136|
|Employees||||||||
|The average
number
ofpersons employed|||by the charity|(including|trustees)|during the year was:||
|||||||2021|2020|
|||||||No.|No.|
|Administration||||||6|6|
|Housing,
support
and||care||||26|26|
|||||||32|32|
|The aggregate|payroll|costs ofthese persons were as follows:||||||
|Wages and salaries||||||365,174|332,627|
|Social security|costs|||||18,735|16,260|
|Other pension|costs|||||6,777|5,679|
|||||||390,686|354,566|
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|Tangible fixed assets|||
|---|---|---|
||Social|Plant and|
||Housing|machinery|
||Properties|including|
||for letting|motor|
|||vehicles|
|||E|
|Cost|||
|As at 1 April 2020|256,345|45,650|
|Additions||3,511|
|Disposals|||
|As at 31 March 2021|256,345|49,161|
|Depreciation|||
|As at 1 April 2020|10,881|16,794|
|Charge for the year|3,627|8,274|
|Disposais|||
|As at 31 March 2021|14,508|25,068|
|Net book value|||
|As at 31 March 2021|241,837|24,093|
|As at 1 April 2020|245,464|28,856|
||||||2021|2020|
|---|---|---|---|---|---|---|
||||||No.|No.|
||Homeless|needs supported||housing|46|46|
|8.|Debtors||||2021|2020|
||||||F||
||Trade debtors||||47,788|43,526|
||Other debtors||||12,169|8,893|
||Prepayments||and accrued income||24,147|20,162|
||||||84,104|72,581|
||Included|within Trade debtors are:|||||
||Rent and|service charges|||38,858|34,596|
||Less provision||for bad debts||||
||||||38,858|34,596|
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|Creditors: Amounts|falling due|falling due|within one year||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E||
|Bank and other loans|||||3,300|2,900|
|Trade creditors|||||1,032|2,024|
|Taxation and social security|||||5,668|4,939|
|Other creditors|||||1,386|51,229|
|Accruals and deferred|income||||13,006|21,765|
||||||24,392|82,857|
|Accruals and deferred||income include the following||deferred income:|||
|As at 01 April 2020|||||||
|Resources deferred
in
Amounts
released from||the period
previous|periods||3,143
~10,526|10,526|
|As at 31 March 2021|||||3,143|10,526|
|Creditors: amounts|falling due||after more than one year||||
||||||2021f|2020|
|Bank and other loans|||||152,650|159,407|
|The bank loan is repayable as follows:|||||||
|Within one year|||||3,300|2,900|
|Within one to two years|||||3,300|2,900|
|Within two and five years|||||9,900|8,700|
|Five years or more|||||139,450|147,807|
||||||155,950|162,307|
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|Operating|leases which expire:|Land and|buildings|
|---|---|---|---|
|||2021|2020|
|||E||
|Within one|year|57,063|62,575|
|Within two|and five years|71,158|128,221|
|More than|five years|||
|||128,221|190,796|
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|14.|Funds analysis|Funds analysis||At 1|||At 31|
|---|---|---|---|---|---|---|---|
|||||April|Incoming|Resources|March|
|||||2020|Resources|Expended|2020|
||General funds|||F||||
||Unrestricted|income fund||200,991|898,100|(769,301)|329,790|
||Total unrestricted||funds|200,991|898,100|(769,301)|329,790|
||Restricted|funds||||||
||Residents|fishing|club|309|||309|
||Crisis UK
LCC Communities||Fund||10,440
4,900|(10,440)
~4,900||
|||||309|15,340|(15,340)|309|
|||||201,300|913,440|(784,641)|330,099|
|15.|Cash flow from operating|activities|||2021|2020|
|---|---|---|---|---|---|---|
||||||F|F|
||Surplus for the year||||128,799|68,888|
||Adjustments
for non-cash|items:|||||
||Depreciation
oftangible fixed assets||||11,901|9,745|
||(Increase)
in trade &other|debtors|||(11,523)|(13,251)|
||Increase/ (decrease)
in trade 8 other||creditors||(8,865)|(1,813)|
||Adjustments
for investing|or financing||activities:|||
||Net gain on sale offixed assets|||||(4,175)|
||Interest payable||||9,745|10,902|
||Net cash generated
from|operating|activities||130,057|70,296|
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|IntroductIon|IntroductIon|||||
|---|---|---|---|---|---|
|As part of the Value for Money Standard:||The|Regulator|of Social Housing|has adopted
a series of|
|regulatory
metrics as a tool to keep a|consistent measure of|||Value for Money|(VFM)across all providers.|
|Metric to Measure|||||Outcome|
|Reinvestment
%(due to the nature ofthe project we
have not developed
new stock during
this financial year)|||||NIA|
|New Supply Delivered %(due to the|nature|ofthe||||
|project we have not developed
new stock during|||this||NIA|
|financial year)||||||
|Gearing
(Housing
Properties at cost)|||||60.8%|
|Earnings
before interest, tax, depreciation,||amortisation,|||1,443.8%|
|major repairs included
Interest Cover|%|||||
|Headline
social housing cost per unit|||||f13,935|
|Operating
Margin % - social housing|only||||15.66%|
|Operating
Margin % - overall|||||14.1%|
|Return on capital employed|||||26.7%|
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